GMS 724 Quiz: GMS 724 - Chapter 9 - The International Monetary Fund - Part 3

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 724
• Professor: HOWARD LIN

Document Summary

Chapter 9 - the international monetary fund: part 3. Imf for its to use in a case of systematic crisis, thereby bringing the imf"s available resources to trillion: the imf has played an important role in the greek financial crisis that unfolded in. 2010 and 2011: greece, a member of the european union, has adopted the euro as the currency and thus has no control over monetary policy. Interest rates are set by the european central bank: but greece has piled up huge sovereign debt that exceeds 160 percent of. Gdp, largely to other banks in europe: the greek economy is in recession, the public sector generates 40 percent of the economy and 25 percent of the workforce, and the government keeps piling up budget deficits. Greece will not be able to meet the austerity conditions necessary to solve the crisis in the long run.